Can I retire at age 62 with 615,000?

Use the below retirement simulation to view the chances of a successful retirement.
About Your Retirement ?
Current Age
Retirement Age
Current Savings $
Annual Deposits $
Annual Withdrawals $
Stock market crash:
Portfolio ?
% in Stocks:
% in Bonds:
% in Cash:
Modify Stock Returns:
0%
Modify Bond Returns:
0%
Modify Cash Returns:
0%
Modify Inflation:
0%
How much money do I need to retire?

This retirement calculator runs simulations based on past data from the S&P 500, 10 Year Treasury Bond, 3 month T-Bill, and US inflation. For each year of each simulation, a random return and inflation amount is chosen.

How to use: Enter your current age and the age when you retire. Then enter your current savings, the amount that you can save annually before you retire, and the amount that you plan to withdraw after retirement. Your annual deposits and withdrawals take inflation into account. For example, if you need $50,000 to live on in retirement using today's dollars, we will automatically take into account the cost of living for your retirement years. The same is true for your annual deposits. Next, decide if you'd like to simulate a stock market crash.

In the portfolio section, choose the makeup of your portfolio with stocks, bonds, and cash. Cash assumes that your money is stored in a savings account. You can then alter the future returns and inflation. For example, if the market has historically returned about 10%, but you think the future will be worse, modify the stock returns by -3%, and the future returns will average out to 7%. Investment fees can also lower stock market returns. Many index funds and ETFs offer extremely low fees and expenses.

Many people receive income in retirement, such as social security, pension plans, part time jobs, annuities, and other benefits. This would allow you to take out smaller distributions every year. Please note that taxes must also be considered, but are not used in this simulation. A 401k, Roth IRA, and Traditional IRA are taxed differently than a standard investment account, as are dividends.

Note: This assumes that the future is at least somewhat like the past. In reality, anything could happen. The Soviet Union collapsed, Japan's Nikkei Index is still well below its 1989 peak. Numerous other markets have changed drastically and never recovered. However, this online tool is helpful in retirement planning and estimating how much you might need for retirement, especially those hoping to retire early. We recommend receiving advice from a financial planner.

Want to retire with $615,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.9%
1 years$50,786$50,334$49,892$49,462$49,041$47,282
2 years$25,142$24,673$24,220$23,780$23,353$21,600
3 years$16,595$16,124$15,672$15,236$14,816$13,124
4 years$12,322$11,853$11,405$10,977$10,567$8,949
5 years$9,759$9,293$8,851$8,431$8,033$6,493
6 years$8,051$7,588$7,153$6,742$6,356$4,895
7 years$6,831$6,373$5,944$5,543$5,169$3,787
8 years$5,917$5,463$5,041$4,650$4,288$2,984
9 years$5,206$4,756$4,342$3,961$3,611$2,383
10 years$4,638$4,192$3,785$3,414$3,077$1,923
11 years$4,173$3,732$3,332$2,971$2,646$1,564
12 years$3,787$3,350$2,957$2,606$2,293$1,280
13 years$3,459$3,027$2,642$2,301$2,000$1,052
14 years$3,179$2,752$2,374$2,043$1,753$869
15 years$2,937$2,514$2,144$1,822$1,544$720
16 years$2,725$2,306$1,943$1,631$1,364$598
17 years$2,538$2,124$1,768$1,466$1,210$497
18 years$2,372$1,963$1,614$1,321$1,075$415
19 years$2,224$1,819$1,478$1,193$959$346
20 years$2,090$1,690$1,356$1,081$856$289
21 years$1,970$1,574$1,248$981$766$242
22 years$1,860$1,470$1,150$892$687$203
23 years$1,761$1,375$1,062$812$617$170
24 years$1,669$1,288$982$741$554$142
25 years$1,586$1,209$909$677$499$120
26 years$1,508$1,136$843$619$449$100
27 years$1,437$1,069$783$566$405$84
28 years$1,371$1,007$728$519$365$71
29 years$1,309$950$678$476$330$59
30 years$1,252$897$631$437$298$50
31 years$1,198$848$588$401$270$42
32 years$1,148$803$549$369$244$35
33 years$1,101$760$513$339$221$30
34 years$1,057$721$479$312$200$25
35 years$1,016$683$448$287$181$21
36 years$977$649$419$264$164$18
37 years$940$616$392$244$149$15
38 years$905$585$367$225$135$12
39 years$872$557$344$207$122$10
40 years$841$530$322$191$111$9
41 years$811$504$302$176$101$7
42 years$783$480$284$163$91$6
43 years$756$458$266$150$83$5
44 years$731$436$250$139$75$4
45 years$706$416$235$128$68$4
46 years$683$397$220$118$62$3
47 years$661$379$207$109$56$3
48 years$640$361$194$101$51$2
49 years$620$345$183$93$46$2
50 years$600$330$172$86$42$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $615,000, adding $2,760 every year, while hoping to spend $33,166 every year in retirement. These numbers increase with inflation.
Reality usually performs much different than the expected returns. This uses historical averages, but anything can happen. In general, riskier investments have greater returns on average, but more volatility in the short term.
Age Total: 100% Stocks Total: 100% Bonds Total: 100% Cash Total: 62/13/25 Blend
61$615,000$615,000$615,000$615,000
62$680,577$647,982$638,449$718,100
63$714,707$644,445$624,549$740,319
64$751,208$639,623$609,072$760,688
65$790,284$633,417$591,929$782,201
66$832,164$625,726$573,029$804,975
67$877,095$616,437$552,277$829,140
68$925,352$605,435$529,570$854,842
69$977,232$592,595$504,805$882,240
70$1,033,065$577,788$477,871$911,513
71$1,093,212$560,874$448,654$942,860
72$1,158,069$541,706$417,034$976,501
73$1,228,072$520,130$382,885$1,012,679
74$1,303,700$495,981$346,076$1,051,665
75$1,385,478$469,085$306,470$1,093,760
76$1,473,985$439,258$263,925$1,139,297
77$1,569,856$406,306$218,291$1,188,646
78$1,673,790$370,024$169,413$1,242,215
79$1,786,555$330,194$117,126$1,300,457
80$1,908,997$286,586$61,263$1,363,876
81$2,042,044$238,958$1,645$1,433,027
82$2,186,719$187,054$0$1,508,526
83$2,344,147$130,603$0$1,607,589
84$2,515,567$69,318$0$1,715,979
85$2,702,338$2,899$0$1,834,147
86$2,905,962$0$0$1,963,072
87$3,128,086$0$0$2,113,704
88$3,370,527$0$0$2,278,608
89$3,635,284$0$0$2,458,736
90$3,924,556$0$0$2,655,589
91$4,240,766$0$0$2,870,823
92$4,586,580$0$0$3,106,258
93$4,964,935$0$0$3,363,899
94$5,379,063$0$0$3,645,956
95$5,832,525$0$0$3,954,858
96$6,329,242$0$0$4,293,285
97$6,873,530$0$0$4,664,185
98$7,470,145$0$0$5,070,805
99$8,124,323$0$0$5,516,724
100$8,841,833$0$0$6,005,879